Discussion of the Forex Contest FXCM Forex Contest

SBCapital posted:

amelabs posted:
Yo, cholipop! Do you not read the posts that come from FXCM, explaining why the spread on the chart is different from the spread in the market watch? The market watch quotes are the correct prices. The charts will reflect this at some future date, but not today. Live with it.

Dude you seem like you know what your on about, is there a max lot size rule or is it go for broke for a month and whoever has most money wins?

All demo accounts for this contest start with $50,000 and the same margin requirements apply for all contestants regardless of where you live. That means the only limit on your trade sizes is the margin that's available in your account.

myfxfreedom posted:
Anyone have link to page that shows all contestants trades/wins so far?
THANKS! & GOOD LUCK ALL!

This link will allow you to see how your fellow contestant are doing throughout the contest: https://www.myfxbook.com/contests/forex-contest-fxcm/25/competitors

CompassTrading posted:
were can i see the rank???

This link will allow you to see how your fellow contestant are doing throughout the contest: https://www.myfxbook.com/contests/forex-contest-fxcm/25/competitors

Pf_fineco posted:
why does my trades get closed without SL as I start losing only 5% of my total asset?

Your trades could have been closed automatically if your account equity fell below the margin requirements for your open trades. All demo accounts in this contest use the default USD margin requirements for FXCM UK accounts which allow for up to 200:1 leverage to magnify gains and losses.

To view the margin requirements table for your contest demo account, go to this page and click on the USD tab, since all contest demos are denominated in US dollars: https://bit.ly/1twtIev

Cholipop posted:
 Another thing is that FCXM (with this demo account) has a ton of off quotes. :( Not idel if your a scalper at all. I had to click buy 5 times until I got the lots I wanted to the buy side of UJ. :(

Hi Cholipop,

What you have pointed out actually highlights a unique advantage of FXCM's MT4 setup. 😄

If you received an 'off quotes' message, then it most likely means that the price that was available in the market to fill your order was outside your specified Maximum Deviation range. The 'off quotes' message lets you know that the order was cancelled to protect you from negative slippage beyond your accepted tolerance.

On the MT4 platforms of some brokers, the Maximum Deviation feature might not be available at all, and with others if it is available, then it can limit both your negative slippage and your positive slippage equally. By contrast, FXCM enhanced how Max Dev works on our MT4 platform by allowing you to limit your negative slippage while still enjoying the full benefits of any positive slippage.

Here are the stats compiled from over 43 million trades executed through FXCM from August 2013 to January 2014:

- 73% of all orders had no slippage.
- 15% of all orders received positive slippage.
- 12% of all orders received negative slippage.
- Over 60% of all limit and limit entry orders received positive slippage.
- 53.32% of all stop and stop entry orders received negative slippage.

In just those six months alone, FXCM clients benefited from over $15 million in positive slippage: https://bit.ly/P6lUzX

If you find that you are getting the 'off quotes' message too frequently, then consider increasing your Maximum Deviation, particularly if you trade during times when prices can change quickly. You can access this on your MT4 platform by going to Tools > Options and the Trade tab as shown below.



Since FXCM uses 5-digit pricing (fractional pips), every 10 points on the Maximum Deviation is equivalent to one pip. If you adjust your Max Dev to 30, that would equate to price range of 3 pips.

Please let me know if you have any further questions about this.

Is this allowed to use FXCM MT4 android version to trade in contest ?

Hi, unfortunately I can´t trade with FXCM. I´m getting a continuous message saying “too many orders'...
Before start trading you (FXCM) has written no restrictions whatsoever on volumes…
However is great to see so many traders and so good results.
Cheers

Hi, are we allowed to trade metals like gold and silver?

jimloko posted:
If it's supposed to be the new pricing, why the old commission pricing? $24 round trip on 2 lots?

Hi Jim,

There seems to be some confusion here. FXCM did not charge any commissions in the past. Therefore, the fact that you are being charged commissions on your contest demo account is confirmation that you're trading on our new pricing.

The commission is charged per side. That means you pay the commission once when you open a trade, and again when you close it. It's worth noting that the commission is the only fee FXCM charges. You're trading on raw FX spreads from 10+ competing liquidity providers with any markups, so any spread cost you pay goes straight to them.

The commission for the 7 most popular currency pairs is $4 per standard lot, which is 1.00 in Volume on MT4, or 100K in Amount on Trading Station. The commission for all other currency pairs is $6 per standard lot. That means if you traded 2 standard lots on one these other pairs, you would pay $12 commission per side or $24 round turn.

It's a very super commission! :))))
https://clip2net.com/s/jdvsRK

RTdemo posted:

Layers posted:

RTdemo posted:

iOS Metatrader 4.

I can see my contest account inMT4 app on my iPhone and iPad ok, but cannot place any orders .. Window to place orders does not even open.
I can trade this account from PC fine.
I can trade other accounts MT4 iOS app ok too, only my contest account does not work.. (Restarted everything, but no luck)

Bummer, ... can trade only from PC at home ..

Anyone trading ok from iOS?

same problem here can trade from laptop ok but can't place or modify orders on iphone (MT4 App) which works fine with my normal broker

Yes, accounts with other brokers are ok on my Iphone/iPad.

I just noticed that the only pair available for trading on myiphone is EURCAD, and on iPad, this one and 2 other, that's all :).
All pairs are listed and show quotes, but TRADE function works only wiht these ...
if this is a matter of some server side setup, I hope FXCM sypport is reading this

Hi Everyone,

Just now I successfully placed trades on a contest demo account using the MT4 mobile app on both an iPhone and an Android phone and can confirm that my orders went through without any issues. Please make sure that you have all symbols added on your MT4 mobile app and that you are logged into MT4 server FXCM-USDDemo01.

@jasonrogers
im using MT4 - Everything seems to look fine - but when i press the 'trade' button it didnt present me with the BUY/SELL button - nothing comes up - so im unable to place any trades

Problem remains.... it feel like my trade button is disabled .....something like that.

I have other FXCM demo accounts on the MT4 but they work fine - only my competition account is not working.

@jasonrogers
can you manually re - register me ?
Its the 2nd day of competition already.

irstudent posted:
'...No restrictions on placing SL, TP or Pending Orders. Partial closing allowed. Trade 0.01 lots.'
We will able to trade just 0.01 lot per one order? or what is it mean?
Thanks

You can place a order as small as 0.01 lot AKA one micro lot, but you can place larger orders as well.

ok guys here is where you can blow your account away or make a nice 300% profit on one trade.


NZD-JPY wE ARE less then 25 mins away from high impact news...... Go all in on the SHORT................😇😂

Nzd.jpy moving down prior... Let us see the spread once the news is releasesed. If it becomes widen by more then 6 pips you can bet your money in live it does the same. Brokers will claim due to low liquidaty the spread be cpmes widen. You have brokers who allow the spread to remain tight, althought it isn't fixed. True ECN......

TRADERS -gladkiyya-matymcho-barinbrin-gorbatiy------- MULTI ACCOUNTS???

310% now is the leader.... They are starting to run away with the lead now. :)

Cholipop posted:
310% now is the leader.... They are starting to run away with the lead now. :)

Not 900%?

;)